TUSTIN, Calif., January 10, 2022 /PRNewswire/ — Performance Bonding Surety & Insurance Brokerage, LP (“Performance Bonding”) is pleased to announce that its business will now be operated within the BRP Group, Inc. (“BRP Group”) family (NASDAQ: BRP) through BRP Group’s previously announced partnership, BRP Group’s nomenclature for a strategic acquisition, with Wood Gutmann & Bogart Insurance Brokers and certain of its affiliates and related entities (collectively, including Performance Bonding, “WGB”), who closed the December 1, 2021. The BRP Group is an independent insurance distribution company offering tailor-made insurance solutions.
With a solid foundation in surety company underwriting criteria and practices, Performance Bonding provides contractual, commercial and miscellaneous surety bonds to a wide clientele, including general contractors, sub-contractors, developers, industry professionals services, private equity firms and publicly traded entities.
“This partnership with Performance Bonding through WGB will add critical bonding and commercial insurance expertise to our national practice,” said Trevor Baldwin, BRP Group Chief Executive. “Performance Bonding is highly respected in their industry, and we are delighted to welcome their team of experts to the BRP Group family.
“Performance Bonding couldn’t be more excited to partner with the highly respected BRP Group organization and brokerage partners,” said Erik Johansson, previously President of Performance Bonding, who will act as a partner of Baldwin Krystyn Sherman Partners, LLC (a BRP Group subsidiary) following the partnership. “We believe this partnership will allow Performance Bonding to continue to grow while providing expanded resources and expertise to our clients. We look forward to continuing the expansion of our domestic and global bond brokerage platform with an organization who share a common culture and desire to provide best-in-class service to their colleagues, customers and carrier partners.”
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is an independent insurance distribution company that provides tailored insurance and risk management information and solutions that give our customers the peace of mind they need to pursue their purpose, their passion and their dreams. We are innovating in the industry by taking a holistic and personalized approach to risk, insurance and benefits management, and supporting our customers, colleagues, insurance company partners and communities through the deployment of resources and cutting-edge capital to drive our growth. The BRP Group represents more than 700,000 customers through United States and internationally. For more information, please visit www.baldwinriskpartners.com.
ABOUT PERFORMANCE BONDING SURETY & INSURANCE BROKERAGE, LP
Performance Bonding has a combined experience of over 60 years in bonding and a full resume of managing bonding programs for notable clients in various industries. They specialize in creating custom bonding solutions for their insurance brokerage clients and partners.
Performance Bonding is a full-service national surety brokerage providing bonding solutions for commercial, contractual and developer bonding needs for private equity, public–publicly traded entities and closely held private companies. Founded in 2014 and based in Orange County, CaliforniaPerformance Bonding provides a full range of bonding products and services, with access to all major bonding insurers nationwide.
NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent BRP Group’s expectations or beliefs regarding future events. Forward-looking statements are statements other than historical facts and may include statements that address future operational, financial or business performance or BRP Group’s strategies or expectations, including those regarding this partnership. In some cases, you can identify these statements by forward-looking words such as “may”, “could”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimates”, “predicts”, “plans”, “potential”, “outlook” or “continues”, or the negative form of these terms or any other comparable terminology. Forward-looking statements are based on the current expectations and beliefs of management and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by such statements.
Factors which could cause actual results or performance to differ from the expectations expressed or implied by such forward-looking statements include, but are not limited to, those described under “Risk Factors” in the Group’s Annual Report BRP on Form 10-K for the fiscal year ended December 31, 2020, and BRP Group’s other filings with the SEC, which are available free of charge on the Securities and Exchange Commission’s website at: www .sec.gov, including risks and other factors relevant to BRP Group’s integration of this Partnership, matters assessed as part of BRP Group’s due diligence, risks related to management time interruption business operations in progress as a result of this Partnership, the activities, financial condition and results of operations of the BRP Group or this Partner, or both, and factors relating to potential effects of the COVID-19 pandemic on the BRP Group’s business, financial condition and results of operations. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to BRP Group or persons acting on behalf of BRP Group are expressly qualified in their entirety by reference to such risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and BRP Group undertakes no obligation to update them in light of new information, future developments or otherwise, except as required by applicable law. ‘required.
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SOURCEBaldwin Risk Partners